The month of October ended with sharp falls for gold and silver prices; crude oil prices also slipped. On the other hand natural gas prices ended the month with light gains. Here is a summary of the price movements of precious metals and energy commodities for October 31st:
Precious Metals prices:
Gold price sharply declined yesterday by 1.26% and reached $1,725.2; Silver price also fell by 2.65% to reach $34.35. During October, gold price rose by 6.3% and silver price increased by 14.2%.
The Euro to US Dollar exchange rate also sharply declined yesterday to 1.3858 – i.e. the USD appreciated against the Euro. Furthermore, the USD appreciated against other currencies such as YEN, CAD and AUD.
Oil and Gas prices:
WTI oil price slightly fell by 0.14% to $93.19 per barrel; Brent oil price also declined by 1.18% to $109.52 per barrel;
Due these changes, the gap between Brent and WTI shrunk to $16.33/bbl. During October, WTI oil price rose by 13.8%, and Brent oil price increased by 3.9%.
Natural gas Henry Hub future price (November delivery) slightly increased by 0.26% to $3.93/mmbtu. The Henry Hub spot price also slightly rose by 0.83% to $3.66/mmbtu; the gap between the spot and future price remained high at $0.27, i.e. Contango.
A Summary of Yesterday’s Prices Changes:
The table below includes: closing prices, daily percent change, and change in prices and indexes in USD (except for USD/CAD, in which the change is in Canadian dollar):
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